In the accounting profession, the concept of materiality in financial reporting comes from two distinct areas: Generally accepted accounting principles (GAAP), and generally accepted auditing ...

Materiality is a mindset that guides companies on what truly matters for resilience, credibility and long-term value ...

The AICPA Auditing Standards Board (ASB) is proposing changes to the definition of materiality in its standards for auditors and attestation engagements to eliminate inconsistencies with the ...

The American Institute of Certified Public Accountants (“AICPA”) Auditing Standards Board issued Statement on Auditing Standards No. 138 and Statement on Standards for Attestation Engagements No. 20 ...

Materiality is a term used in accounting and the law, in relation to information disclosed in financial statements that affects decisions made by the people who read them. Deciding whether something ...

The goal of conducting an audit and preparing an associating audit report is to allow the auditors to express an opinion regarding whether or not a company's financial statements were prepared in ...

This study Investigates how manager and auditor incentives, along with audit committee characteristics, are associated with materiality judgments about detected misstatements. Using data on detected ...

The Public Company Accounting Oversight Board has released a report summarizing its inspection findings between 2004 and 2007 of eight of the largest domestic accounting firms, outlining the many ...